Advent International Corporation signed an agreement to acquire the Methacrylates business of Evonik Industries AG (DB:EVK) for €3 billion on March 4, 2019. The net purchase price (equity value) can be calculated after deductions, made up primarily of pension obligations of around €500 million. The selling price is 8.5 times the business’ EBITDA. The methacrylates business generated sales of approximately €1.8 billion and EBITDA of €350 million in 2018. The transaction is subject to customary closing conditions including regulatory approvals, approval by the authorities in several countries. The necessary approval by the Supervisory Board of Evonik Industries AG is still pending. As of July 2, 2019, European Commission approved the transaction. Transaction is expected to close in the third quarter of 2019. As of July 16, 2019, the transaction is expected to be completed by July 31, 2019. Evonik will use the sale proceeds to strengthen its balance sheet and, above all, for targeted growth projects. That includes funding the purchase price of the US company PeroxyChem. In addition, some funds will be used to strengthen the present specialty chemicals portfolio. Bank of America Merrill Lynch acted as financial advisor to Advent International Corporation. Barclays PLC acted as financial advisor to Evonik Industries AG. Thorsten Seidel, Barbara Deilmann, Marcus Meese, Peter Wand, Michael Bartosch, Thomas Dörmer, Katja Heuterkes, Holger Ellers, Holger Engelkamp, Fabian Hertel, Daniel Neudecker, Tino Marz, Eva Maier, Eva Kriechbaumer, Christian Reichel, Hagen Köckeritz, Bernhard Trappehl, Sonja Klein, Christoph Becker, Ariane Schaaf, Philipp Schütt, Joachim Fröhlich, Rebecca Romig, Heiko Plassmeier, Dominik Guttenberger, Holger Lutz, Björn Helwig, Rembert Niebel, Andreas Jauch, Florian Thamm, Daniel Bork, Niklas Wielandt, Tim Heitling, Janet Butler, Katharina Weiner, Andreas Schulz, Claire Dietz-Polte, Vivien Vacha, Ilya Levin, and Anika Schürmann of Baker McKenzie acted as legal advisor for Evonik Industries. Stephanie Hundertmark, Barbara Keil, Jochen Dieselhorst, Maximilian Lasson, Johannes Kater, Eva-Maria Hoyler, Christoph Becherer, Thomas Hornberger, Laura Frühauf, Marisa Hecker, Lutz Swirl, Marius Scherb, Elisabeth Wulf, Xiaochen Zhang, Jacky Zhu, Kevin Kay, Milena Manos, Michael Ramb, Sascha Arnold, Katharina Reinhardt, Johann Ante, René Döring, Philipp Knoll, Judith Römer, Moritz Heidbüchel, Sebastian Breder, Max Kristofer Betz, Dominik Flaig, Michael Josenhans, Dennis Chinnow, Georg Lütbüttel, Norbert Schneider, Björn Junior, Markus Stoffels, Frank Röhling, Bruce McCulloch, Bertrand Guerin, Alexander Sekunde, Uwe Salaschek, Olga Kovtunova, Sarah Melanson, Meredith Mommers, José Banuelos, and Karen Overby of Freshfields acted as a legal advisor for Advent International. P+P Pöllath + Partners acted as legal advisor to Evonik Industries AG. Allen & Overy LLP acted as legal advisor to Advent International Corporation. Ernst & Young Services acted as financial as well as due diligence provider to Advent International Corporation. Advent International Corporation completed the acquisition of Methacrylates Business of Evonik Industries AG on July 31, 2019. The relevant anti-trust authorities had already granted their unrestricted approval. Net purchase price to be used for strengthening balance sheet and targeted growth projects.